Secretsales.com,
the UK’s largest flash sales business in terms of revenue, growth and
registered members for designer fashion, accessories, footwear and lifestyle
products, has published its financial results for the year ended 31 December
2013. It increased its revenues by 68 per cent to 18.2m and grew its
registered membership by 39 per cent to 3 million as well as scored 9.7
out of 10 via TrustPilot for customer satisfaction. Operating losses were down
10 per cent despite a year of investment whilst the business extended its
category range to include accessories, footwear, apparel, children’s wear,
lingerie, beauty and homeware and lifestyle. 50 per cent of revenues were
generated via mobile devices, for 2012 this was 35 per cent. Its 2014
year to date sales are up by almost 40 per cent with the business on
track to move into profitability from Q4.
Nish Kukadia, CEO of secretsales.com, said:
“We delivered another year of strong sales growth in 2013, following the 89per cent growth seen in Q4 2012, as we invested in integrating
new technologies, optimised customer personalisation and launched a new and innovative customer loyalty programme. This has resulted in enhanced customer retention, increased order size and value, an expanded database of registered members and stronger conversion of customers into repeat buyers.
“Research has demonstrated that our regular purchasers are located across the UK, with 70 per cent outside London, and of an affluent ABC1 profile. Accordingly, the focus is towards high-end products to meet the needs of this highly engaged customer base.
“As a result of our finely-tuned marketing strategy, the momentum in the business has continued into 2014, with sales for the first 7 months up almost 40 per cent, putting us on track to move into profitability from the fourth quarter of this year. The additional funds of £3.8m we raised in April will enable us to invest in new initiatives as we move to the next stage of our development.”
Secretsales.com was founded in
2007 and is managed by Nish Kukadia, CEO, and his brother Sach Kukadia, Buying
Director, both founding partners of the business. In 2010 Sergio Dias was
appointed as Chairman, having formerly held senior positions at brands4friends
and LVMH. Since then the senior management team has been further strengthened
with the appointment of a full-time CFO, CCO, and CMO, all with leading retail
backgrounds.
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